Category
An introduction to the preliminary documents used in a loan transaction, including reasons why they’re used and their typical format and content. Documents covered include term sheets, commitment letters, and fee letters.
A look at filing under the UCC, including a close look at a UCC-1 financing statement. This course also covers extension, modification, and termination of a financing statement by filing a UCC-3.
A review of covenants and events of default, including affirmative and negative covenants, a detailed look at financial covenants, and the interplay between covenants and events of default. This course also looks at the concepts of “covenant lite” and “springing covenants” as well as the difference between a Default and an Event of Default.
A review of closing checklists, including why they’re important, their typical format and contents, and a few tips and strategies for drafting and updating them.
A look at payoff letters, including when they’re used, why they’re important, and what they usually contain.
The credit agreement is the main agreement in a commercial lending transaction. This course covers the contents of a credit agreement, including a walkthrough of a typical credit agreement.
A discussion of guaranties, including the key provisions in a guaranty agreement and the different types of guaranties that can be given, such as payment vs. performance guaranties and down-stream vs. upstream guaranties.
A review of the common ancillary documents in a typical loan transaction, including corporate certificates, legal opinions, and documents related to collateral in secured deals.
A look at security instruments like security agreements, pledge agreements, and assignments. A discussion about the purpose of security instruments and their important provisions is also included.